Blockchain Technology Market Global Outlook 2019-2022 | Leading Vendors- Microsoft Corp, IBM Corp, Accenture, Deloitte, Capgemini, Cognizant, Infosys, Tata Communication Services, VirtusaPolaris, Wipro

The Blockchain technology market is being rapidly adopted in banking and financial services, and in new applications like ride-sharing and content streaming. The immutable nature of Blockchain makes it secure for applications which hold customer data. These factors are expected to drive the market at an exponential growth rate during the period of 2017 to 2022.

Companies covered:

Microsoft Corp, IBM Corp, Accenture, Deloitte, Capgemini, Cognizant, Infosys, Tata Communication Services, VirtusaPolaris, Wipro

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Segment insights:

The banking, financial services, and insurance (BFSI) sector has adopted Blockchain technology rapidly, and occupied 54% of the Blockchain market in 2017. Blockchain solutions, which find the most use in banking applications, include clearing and settlements, payments, digital identity, and smart assets. Blockchain is also disrupting the insurance industry, especially in the areas of health insurance, prevention of insurance fraud, and digital asset management. The application of Blockchain in supply chain management is also on the rise, for efficient tracking of inventory, smart contracts with vendors, digital tagging, etc. These applications occupied 20% of the market in 2017. Healthcare and logistics are some of the industries that will witness high adoption of Blockchain technology.

Public Blockchain provides higher decentralization and transparency in operations, making it the most popular Blockchain technology, and occupied a market share of 74% in 2017. Also, public Blockchain is less expensive than other variants since it does not require a centralized server, or a system administrator. However, banks are currently focusing on private Blockchain owing to its tighter security features. Though it currently occupies a market share of 15%, its adoption is expected to increase during the forecast period.

Regional insights:

North America has the highest adoption of the Blockchain technology, since the region records the highest number of financial transactions, and cybersecurity remains one of the primary concerns for organizations. Estonia, a country in northern Europe, is playing a vital role in Blockchain adoption. Asia-Pacific is a highly potent market for Blockchain technologies. Countries like China, Japan, and South Korea are propelling growth in this region. Latin American countries like Brazil and Argentina are witnessing the increased use of Blockchain technology in the financial sector. The Middle East and Africa is still a nascent market.

Key Reasons to Purchase:
1) To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape.
2) Assess the production processes, major issues, and solutions to mitigate the development risk.
3) To understand the most affecting driving and restraining forces in the Blockchain Technology market and its impact in the global market.
4) Learn about the Blockchain Technology market strategies that are being adopted by leading respective organizations.
5) To understand the future outlook and prospects for the market during years 2019-2022.
In the end, Blockchain Technology market report provides valuable information for companies like manufacturers, suppliers, distributors, traders, customers, investors and individuals who have interests in this industry.

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In the end, Blockchain Technology market report provides valuable information for companies like manufacturers, suppliers, distributors, traders, customers, investors and individuals who have interests in this industry.

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